Subsequent Event

3 Months Ended

Jun. 30, 2015

Subsequent Event [Line Items]

Subsequent Events [Text Block]

13. Subsequent Event

On July 28, 2015, Legg Mason announced an agreement to acquire a majority equity interest in RARE Infrastructure, Ltd., which specializes in global listed infrastructure investing, and is headquartered in Sydney, Australia with $7,600,000 in AUM.  Under the terms of the transaction, Legg Mason will acquire a 75% ownership stake, the firm’s management team will retain a 15% equity stake and continuing minority owners, which includes The Treasury Group, will retain 10%.  The acquisition is expected to close during the third quarter of fiscal 2016 and will require an initial payment at that time.  In addition, contingent consideration payments may be payable upon the achievement of certain net revenue targets, potentially extending through March 31, 2019.